WB to provide Turkey $1.78b in earthquake relief financing
The World Bank has said it is providing relief and recovery financing assistance to Turkey worth of $1.78 billion as the country is struggling with the aftermath of an earthquake that has killed over 25,000 people and left hundreds of thousands homeless.
The Washington based global lender on Thursday said in a statement that $780 million will become available for Ankara immediately, as the funds will be diverted from two existing World Bank loan projects in Turkey.
Another $1 billion in assistance for Turkey’s recovery and reconstruction is also being prepared but will take more time to arrange, a WB spokesperson said.
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